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PBLS BIG NEWS ...
Press Release Source: Phoenix Associates Land Syndicate


Phoenix's Best Jets Engines Awarded Contract to Service and Support J85 Turbo Jet Engines
Thursday September 21, 5:45 am ET


Best Jets Engines Awarded Contracted by Aviall, Inc., a Sub of Boeing Commercial Aviation Services, to Store, Service, Repair and/or Re-Manufacture 133 GE J85 Turbo Jet Engines


NEW ORLEANS, LA--(MARKET WIRE)--Sep 21, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced that Best Jets Engines, Inc., a wholly owned subsidiary, has been awarded a significant contract by Aviall, Inc. regarding the servicing and refurbishment of one hundred thirty three (133) GE J85 turbo jet engines.
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Aviall, Inc., which describes itself as "the world's largest independent provider of new aerospace parts and related aftermarket services," was recently acquired by The Boeing Company for $1.7 billion, and is now a subsidiary of Seattle-based Boeing Commercial Aviation Services.

Best Jets Engines, which already has a Teaming Agreement in place with GE's Aircraft Engine Division, sees this latest contract as confirmation by such major aviation industry companies as Aviall, Boeing, and GE of its expertise and capability to play an important role in their aircraft engine parts and maintenance support operations.

The first stage of the Aviall contract begins this week with the arrival at the Best Jets facility in Denison, Texas of 133 GE J85 turbo jet engines, along with afterburners and other related items for use on the engines. The J85 turbo jet engine powers the T-38 military jet trainer as well as several other models of aircraft operated by the US military and scores of foreign governments. Best Jets' work scope on the 133 engines begins with disassembly, followed by cleaning, inspection, categorizing, repairing, tagging and drop shipping parts directly to Aviall's customers. Some engines will be overhauled or repaired, tested at Best Jets' Test Cell and returned to service. According to George Ottendorf, Engine Program Manager for Best Jets, Inc., the anticipated revenue will be millions of dollars per year over the life of this one contract.

Phoenix Associates, owner of the Best Jets Group of Companies, believes that this is one of many such contracts soon to come to Best Jets Engines, Inc. In anticipation of these contracts, Phoenix has moved forward with installation of a new state-of-the-art Engine Test Cell that has been delivered and is being installed at the Best Jets Engines site. This Test Cell has a value of approximately $3 million.

This Test Cell will allow Best Jets to test run the rebuilt engines and put them through a series of tests prior to shipment to the end user for installation on an aircraft.

Phoenix believes that annual revenues from its Best Jets Engines business unit will exceed $10 million for the year 2007, and will grow significantly each year thereafter for the next five years.

There are approximately 10,000 engines worldwide of the type being remanufactured by Best Jets. The average cost to rebuild a J85 turbo jet engine is $200,000 to $400,000 each, depending on the scope of the work required to bring the engine back to original manufacturer specifications.

About Phoenix Associates Land Syndicate (PBLS)

Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz

Forward-Looking Statements

This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.



Contact:
For More Information Contact:

Mike Mulshine
Osprey Partners
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Source: Phoenix Associates Land Syndicate